Charles Schwab Investment Management Inc. Cuts Position in DHT Holdings, Inc. (NYSE:DHT)

Charles Schwab Investment Management Inc. trimmed its holdings in shares of DHT Holdings, Inc. (NYSE:DHT) by 26.9% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 529,601 shares of the shipping company’s stock after selling 194,939 shares during the period. Charles Schwab Investment Management Inc.’s holdings in DHT were worth $4,920,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in the stock. Spire Wealth Management purchased a new position in DHT during the fourth quarter valued at $36,000. Sunbelt Securities Inc. bought a new position in shares of DHT during the third quarter valued at $50,000. Soros Fund Management LLC purchased a new position in shares of DHT in the 3rd quarter worth about $114,000. SBI Securities Co. Ltd. bought a new position in DHT in the 4th quarter worth about $108,000. Finally, Ieq Capital LLC purchased a new stake in DHT during the 4th quarter valued at about $116,000. 58.53% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on DHT shares. Kepler Capital Markets cut shares of DHT from a “buy” rating to a “hold” rating and set a $9.70 target price for the company. in a report on Thursday, December 12th. Jefferies Financial Group raised their price target on shares of DHT from $13.00 to $14.00 and gave the company a “buy” rating in a research report on Thursday, February 6th. Three research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $12.68.

DHT Price Performance

NYSE DHT opened at $10.90 on Wednesday. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.50 and a current ratio of 1.84. The company has a market capitalization of $1.76 billion, a price-to-earnings ratio of 9.73 and a beta of -0.38. The stock has a 50-day moving average of $10.88 and a 200 day moving average of $10.53. DHT Holdings, Inc. has a one year low of $8.67 and a one year high of $12.80.

DHT (NYSE:DHT) last announced its quarterly earnings results on Wednesday, February 5th. The shipping company reported $0.34 EPS for the quarter, topping analysts’ consensus estimates of $0.22 by $0.12. DHT had a net margin of 31.72% and a return on equity of 17.42%. On average, sell-side analysts forecast that DHT Holdings, Inc. will post 0.94 EPS for the current year.

DHT Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, February 25th. Shareholders of record on Tuesday, February 18th were paid a dividend of $0.17 per share. The ex-dividend date of this dividend was Tuesday, February 18th. This represents a $0.68 dividend on an annualized basis and a yield of 6.24%. DHT’s dividend payout ratio is presently 60.71%.

About DHT

DHT Holdings, Inc, through its subsidiaries, owns and operates crude oil tankers primarily in Monaco, Singapore, and Norway. The company also offers technical management services. As of March 15, 2024, it had a fleet of 24 very large crude carriers. The company was incorporated in 2005 and is headquartered in Hamilton, Bermuda.